Revenues of State Social Protection Fund of Azerbaijan up

17 October 2018 16:57 (UTC+04:00)

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The revenues of the State Social Protection Fund under the Ministry of Labor and Social Protection of Azerbaijan in January-September 2018 increased by 16.07 percent or 406.84 million manats compared to the same period of 2017, the Minister of Labor and Social Protection of Azerbaijan Sahil Babayev said.

In particular, according to the minister, revenues from compulsory state social insurance fees rose by 10.33 percent or 154.99 million manats.

Babayev noted that, presently, 1.3 million people in Azerbaijan receive retirement pensions, more than 480,000 people receive monthly and one-time social benefits, 50,000 families receive social assistance, more than 63,000 people receive personal stipends.

"The development of the country has a positive effect on social protection. For example, the size of the average monthly pension increased by 8.4 percent compared to the same period in 2017, reaching 221.1 manats. The size of labor pensions by age amounted to 249.1 manats," the minister said.

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